Posted by: John-Paul | December 17, 2011

Out of Poverty Via a Piece of the Rock

Herman Cain’s father, Luther, wanted ownership of his own home, his version of the American dream. According to the free December 2011 issue of Newsmax magazine, he saved money from three jobs, one of which included being chauffer for the president of Coca-Cola. Luther Cain asked his boss for part of his pay in company stock…and got it. As the stock’s value increased, he eventually quit one job then another and paid cash for his dream home.

That is my version of the American dream. Luther Cain was wise enough to realize that saving income from three jobs wouldn’t be enough; he had to own a piece of the rock. Business ownership – capital investment – is the best way to lift people out of poverty.

Yes, poor people need jobs so they can rely on their own efforts to have income. They particularly need to save to buy the big-ticket items that drive our economy. They also need to buy into business ownership, whether proprietor- or partnership or through the purchase of stock that pays dividends. This will lift them out of soul-smothering poverty and dependence on others.

 

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Responses

  1. Luther Cain was a lucky winner. Good for him! For every lucky winner, however, there are probably a 1,000 that were not so lucky. Greed took over too many of our “winners.” They wanted more and more and more, regardless of the impacts of their actions. They stepped on the losers even though those losers may have helped the winners succeed. They lined the pockets of their elected officials who then legislated in favor of the winners, despite the negative impact on the country, the environment, the poor, the elderly, the ill, etc. “A nation shows it character by how it treats its citizens in their dawn (the children), citizens in their twilight (the elderly) and citizens in the shadows (the poor, the sick, the disabled).” (paraphrase of Hubert Humphrey)

  2. My contention is that Luther Cain was NOT lucky. He worked hard, he gained possession of stock in a growing company, he achieved his dream. More people could do this if they put their minds and efforts to it.


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